FXParabol is one of the newest EAs in the market. Its development is based on a blend of the Parabolic SAR and Bollinger Bands indicators. The system supports the MT4 and MT5 platforms and works with the USDJPY and USDCHF currency pairs. Sadly, we don’t know the company or the people who authored this product. Information on the vendor is missing on the official page.
FXParabol at a glance
|Currency pairs||USDJPY and USDCHF|
|Strategy||Based on Parabolic SAR and Bollinger Bands indicators|
The EA mainly works on two currency pairs. The vendor has also incorporated a special drawdown in it to ensure that the drawdown remains low. The EA is compatible with any broker and can work on any account type. By purchasing the tool, you will also get a detailed user manual, qualitative technical support, free updates, and a 30-day money-back guarantee.
FXParabol trading strategy tests
As we mentioned earlier, this system relies on the Parabolic SAR and Bollinger Bands indicators to trade. In this regard, it uses these indicators concurrently to identify a trend and decide at what point the robot should initiate a trade in the trend direction. As per the vendor, a special mathematical algorithm is integrated to help the system to recover losses made by bad trades.
Though the devs assure us that the system was tested using 2015 historical data, they don’t present the results. The EA’s past trading outcomes are thus unknown. We cannot tell the number of trades completed, their win rates, and losses and profits generated, among other parameters.
What about FXParabol live trading results
This account has been around for about one and a half years now. The EA has increased the balance from $1000 to $5468.35 after generating a profit of $4468.35. The monthly gain is 9.86%, while the drawdown is 22.86%. As such, the risk reward ratio is about 2:1. There’s a total gain of 446.83%.
The robot can remain inactive for days. As you can see above, it holds trades for 10 days on average. The win rates of 78% for long trades and 63% for short trades are not impressive. There’s a profit factor of 2.27 and an average win of 51.26 pips against an average loss of -73.42 pips. This indicates that the robot has a higher likelihood of bringing in more losses than wins for the owner.
The EA was profitable at the beginning of 2021, but its performance began declining towards the end of the year.
The system trades dangerously as it works with the grid and martingale approaches. Large lot sizes are used.
Customers have not given their opinions about the workability and performance of this EA yet. Probably the trading community has not shown interest in the system.
FXParabol Review SummaryFXParabol
Functionality3/5 NeutralThough the vendor describes the features of the robot, they don’t disclose the timeframe used or the recommended deposit and leverage.
Trading strategy4/5 GoodThe vendor mentions and describes the strategy the robot uses to trade.
Live Results3/5 NeutralLive results presented are from a verified site, so the data is authentic.
Customer Support3/5 NeutralThe devs claim to offer 24/7 customer support, which intimates that they are always available to answer any questions regarding their service.
Customer Reviews2/5 BadThe system has not been reviewed by customers yet, possibly because traders have not begun using it.
- Supports both the MT4 and MT5 platforms
- Strategy used is explained
- A 30-day money-back guarantee is on offer
- Risky approaches on the board
- High risk of ruin
- No backtest report